Based on a β-diketiminate ligand, an iron(III) tetrahedral high-spin complex, [LFeIII(Cl)2] (1), and an iron(II) high-spin triangular planar complex, [LFeIICl] (2), have been synthesized and structurally characterized. Also, complex 1 can be considered as a precursor to produce 2via a reduction process, with a concomitant change in its magnetic anisotropy. Combined experiments and ab initio calculations support the observation of field-induced single-ion magnet (SIM) behaviour for 2 with an effective spin-reversal energy barrier of Ueff = 40.02 K, as a direct consequence of the large intrinsic magnetic anisotropy (easy axis) arising from out-of-state spin-orbit coupling in the trigonal planar FeII complex. Noteworthy butterfly hysteresis loops were observed from 2 up to 8 K, which represents the first case in Fe(II) complexes.